Will and Jada Pinket Smith’s family fortune has been kicked up by TheKarate Kid. Jaden Smith, only twelve years old, who also co-starred parallel his talented father in The Pursuit of Happyness, was named the highest paid actor in Hollywood, grossing $1 million for his role in the blockbuster film with an added $2 million in bonuses. The Karate Kid remake claims over $150 million in revenues from box office and DVD sales.

The film was released in 2010 when Jaden was 12, but had begun filming at the age of 10. This is the young actor’s third film, this half-pint is on his merry way to filling his daddy’s big shoes. According to celebrity website TMZ, Jaden’s management has also negotiated a share of the future profits of the film, which means he will continue to rake in the heavy dollars.

Along with starring in the film he partnered with teen mega-star Justin Bieber to perform the theme song ‘Never Say Never’. Jaden’s seven figure salary makes him by far the highest paid of any of the child actors currently in Hollywood.